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Wednesday, November 03, 2004

Voters Reelect Key Legislators

Reported by Theresa Sim

Several incumbent legislators involved in mutual fund reform handily won reelection to their seats on Wednesday.

Senator Richard Shelby (R, Alabama), who chairs the Senate Committee on Banking, Housing and Urban Affairs, easily won reelection to the Senate on Wednesday with 68 percent of the vote. The Banking committee conducted a series of hearings investigating the mutual fund industry earlier this year.

Senator Peter Fitzgerald (R, Illinois), who chairs a Senate subcommittee within the Committee of Governmental Affairs, was not up for re-election this term. The subcommittee is investigating 529 plans. Fitzgerald was also the primary sponsor of the Mutual Fund Reform Act of 2004.

Another sponsor of the Mutual Fund Reform Act, Congressman Paul Gillmor (R, Ohio), won reelection with 67 percent of the vote. 

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